Australia's Foresta Group rises on 30-year lease agreement

Foresta group

04/04/2024 03:15

** Shares of Foresta Group Holdings  FGH.AX  rise as much as
16.7% to A$0.014, their biggest intraday pct gain since March 1
    ** The pine chemicals supplier says it has signed a 30-year
lease agreement, inclusive of a 20-year renewal option, for
industrially zoned land in Kawerau for its flagship
manufacturing facility in New Zealand
    ** About 1.3 mln shares change hands, 1.2x the 30-day avg
volume
    ** Stock down ~14% YTD, as of last close

 (Reporting by Neha Soni in Bengaluru)
 ((Neha.Soni@thomsonreuters.com))